JOYY Inc. (YY) surged in the current market after announcing its fourth quarter and fiscal 2021 results. YY values at $38.78, gaining more than 52.62% compared to yesterday’s closing price. The stock closed at $26.41 at the end of the last trading session. The stock volume traded in the previous trading session was around 792.27K shares. The current market cap of the company is about $2.72 billion.

YY: Q4 and Fiscal 2021 Key Financials

• JOYY Inc.’s revenue in Q4 2021 was $663.7 million, gaining more than 16.8% compared to the revenue of $568.2 million in Q4 2020.
• Fiscal 2021 revenue was $2.6 billion, 36.5% more than the revenue of $1.9 billion in fiscal 2020.
• The company’s net income in Q4 2021 was around $73.2 million, improving compared to the net loss of $118.9 million in Q4 2020.
• YY’s net loss in fiscal 2021 was around $115.9 million, and profitability declined compared to the net loss of $18.7 million in fiscal 2020.
• Its gross margin in Q4 was 11% compared to a net loss margin of 20% in Q4 2020.
• The net loss margin is 4.4% in fiscal 2021. Last year’s net loss margin was 1%.
• The company had cash and cash equivalents of $4.6 billion as of December 31, 2021.

YY: Update on Share Repurchase Program

The company’s board of directors approved $1.2 billion in further share repurchases in 2021. By December 31, 2021, JOYY had repurchased $393 million in shares, $235.7 million of which came from the newly expanded $1.2 billion repurchase plan. JOYY has also given $160 million in dividends. For their long-term support, JOYY intends to reward its shareholders for their faith in the Company’s long-term growth potential.

YY CEO’s Remarks

JOYY Chairman and CEO David Xueling Li said that our firm had shown tremendous resilience despite macroeconomic uncertainty and pandemic problems in 2021. We improved monetization across many products through our globalization strategy and strengthened our broad social entertainment ecosystem, resulting in a 36.5 percent year-on-year revenue increase. This year, BIGO and the whole group achieved non-GAAP profitability via greater monetization of several goods, proactive marketing adjustments, and improved operational efficiency.

Conclusion

The company is making tremendous progress with Bigo Lie, Likee, and Hago. Bigo Live’s revenue growth was 12.5% yoy. Likee’s growth rate was 26.5%, and Hago stands at 32.1%. The company is optimistic about its brands and anticipates firm growth in fiscal 2022.